Why Is There a Hiring Frenzy with Cryptocurrency ICOs? Updated in 2019

By Basel Ismail

Published 2:57 pm

Not too long ago, decentralized digital monetary systems and currencies like Bitcoin were a laughable matter. Many people thought the cryptocurrency was sketchy as it banked on coins and tokens independently from government central banks. Accolades were virtually non-existent; warnings, however, are very abundant. But a lot has changed since then. This is the state of cryptocurrencies today.

Risible, bogus, and unreliable. Many people often use these words when they speak about cryptocurrencies. This was in the past. In the ensuing years, the concept of digital currency became more widespread. The notion has already reached a considerable portion of the population. More people have developed an understanding of the idea of having a currency system independent from central banks. Thus, the ecosystem of Bitcoins and similar digital currencies exploded.

The growth and popularity of cryptocurrencies are evident from its price explosion. The value of a single unit of digital currency, or coin as they call it, is in the thousands of dollars. And with the entry of new digital currency units and its players, a handful of cryptocurrency coins may be worth millions now.

Spectacular Rise of Cryptocurrency Units

Can you believe there are 54 digital currencies that are worth more than $10 million dollars? Does that blow your mind? Well, this news would whirl and twirl you even more. Did you know there are nine cryptocurrencies worth more than a hundred million? What’s more, there are three—we’ll say it again—three cryptocurrencies that total more than $1 billion dollars.

With those huge amounts involved in the new currency, no wonder investors are pouring millions of dollars into this revolutionary finance system. There is potential in cryptocurrencies. Evidently, the growth pace is increasing. Which is why there are a lot of promising career opportunities in it too, among many other financial prospects.

Let’s talk about the hiring frenzy with cryptocurrency ICOs. But first, what is an ICO?

ICO: Initial Coin Offering

In the world of digital currencies, this is a commonly used term. ICO stands for initial coin offering. What is it? Think of ICO as an initial public offering (IPO) or the very first sale of stocks to the public.

To put it in simple terms, ICO is a way to launch a new cryptocurrency. These digital coins are issued on a blockchain (a series of transparent ledgers, which have strong encryption and often used for highly sensitive transactions such as those involving digital currencies). With the complexity of the processes involved, professionals are needed.

Companies looking to integrate cryptocurrencies into their business model will need individuals to help them build, market, and sell their business. At the same time, these industries will have to provide customer support for their investors, partners, and other people whom they have promised such business.

Job Trends in the Cryptocurrency World

With the explosion of digital currency comes the buzz of employment opportunities in the industry. From small startups to more established businesses, the job market in the cryptocurrency world is buzzing.

You may be surprised by the types and number of companies looking for individuals with a skillset useful in cryptocurrency transactions or blockchain technology. Big-name businesses like Uber, GEICO, and eBay are just a few of these industries who are tapping on people with listed skills in the digital currency.

So what are the career opportunities available in cryptocurrency? Wondering if you’re qualified to land in any of these roles? Let’s look into the tech jobs created by the digital currency business.

Sought-After Cryptocurrency-Related Jobs

The highly in-demand positions in digital currency and blockchain technology are the conventional tech-related jobs. These include the likes of smart contract developers, web designers, and project managers.

There are also positions, which are cryptocurrency-intensive; these include data scientists and miners.

Indeed, there is a wide spectrum of job positions in the business of cryptocurrency. Each may have varying functions too. Take a cryptocurrency analyst for instance. This professional is responsible for designing a suitable investment strategy. Meanwhile, blockchain developers and designers will create and implement solutions that will facilitate the integration of the cryptocurrency into their company’s business model.

In the digital currency world, there are miners. What they do is build, operate, and maintain the “rigs” used for mining the digital coins or tokens. To transact with these digital currency units, companies also need traders and sales associates who will be responsible for overseeing the exchange and other dealings.

Other crypto-focused career opportunities include technical product managers, consultants, software development engineers, and similar IT personnel.

How do you land a Cryptocurrency Job?

But how do you land a job in the cryptocurrency business? Being a relatively new concept, working in a digital currency business may seem different than your conventional company. One of the easily discernable difference is that novel concept of cryptocurrency. Thus, a candidate for a digital currency work may need some intensive study, training, or familiarity with functions of the position. More importantly, genuine interest for and enthusiasm about cryptocurrency is ideal too.

Not to worry. The digital currency technology and business are new. Understandably candidates for the positions may not have in-depth knowledge of the concepts right off the bat. However, a candidate who is willing to be trained and learn as much knowledge as one can have a higher chance of getting hired. Talent is a desirable trait, but a real passion to learn bears more weight.

Of course, having the experience and the related background is a huge plus on the part of the candidate having these qualifications.